Copyrighted by MIDLAND CHARTER & Municipal Code Corporation, 1998.

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Sec. 15.9. Regulation of rates.

All public utility franchises shall make provision therein for fixing rates, fares, and charges, and for readjustments thereof at periodic intervals at the discretion of the Council. The value of the property of the utility used as a basis for fixing such rates, fares, and charges shall in no event include a value predicated upon the franchise, goodwill or prospective profits.

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